Dr. Wouter Ghijsebrechts: what changed
Dr. Wouter Ghijsebrechts
Largest movements
- Cash -€136,279
down €136,279 (-91.2%), from €149,383 to €13,104
mainly Contributions, distributions and other (-€280,000) and Investment in fixed assets (net) (-€64,680)
- Tangible fixed assets +€55,247
up €55,247 (+382%), from €14,445 to €69,692
of which Furniture and vehicles: +€53,381
- Receivables within one year +€23,223
up €23,223 (+386%), from €6,022 to €29,245
- Deferred charges and accrued income +€2,429
up €2,429 (+97.8%), from €2,483 to €4,911
- Reserves -€186,866
down €186,866 (-97.8%), from €191,038 to €4,172
- Other debts +€116,765
up €116,765 (+1,088%), from €10,735 to €127,500
- Tax, wage and social debts +€20,157
up €20,157 (+391%), from €5,154 to €25,312
- Current portion of long-term debt -€5,626
down €5,626 (-74.9%), from €7,515 to €1,889
- Gross operating margin -€12,414
down €12,414 (-8.9%), from €139,529 to €127,115
- Taxes -€2,682
down €2,682 (-9.5%), from €28,343 to €25,660
- Financial income +€2,333
up €2,333 (+1,228,000%), from €0 to €2,333
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €217,332 | €161,952 | -€55,380 | -25.5% |
| Fixed assets | 21/28 | €14,445 | €69,692 | +€55,247 | +382% |
| Tangible fixed assets | 22/27 | €14,445 | €69,692 | +€55,247 | +382% |
| Plant, machinery and equipment | 23 | - | €1,866 | +€1,866 | |
| Furniture and vehicles | 24 | €14,445 | €67,826 | +€53,381 | +370% |
| Current assets | 29/58 | €202,887 | €92,260 | -€110,627 | -54.5% |
| Amounts receivable within one year | 40/41 | €6,022 | €29,245 | +€23,223 | +386% |
| Other amounts receivable | 41 | €6,022 | €29,245 | +€23,223 | +386% |
| Current investments | 50/53 | €45,000 | €45,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €149,383 | €13,104 | -€136,279 | -91.2% |
| Deferred charges and accrued income | 490/1 | €2,483 | €4,911 | +€2,429 | +97.8% |
| Total equity and liabilities | 10/49 | €217,332 | €161,952 | -€55,380 | -25.5% |
| Equity | 10/15 | €192,038 | €5,172 | -€186,866 | -97.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €191,038 | €4,172 | -€186,866 | -97.8% |
| Distributable reserves | 133 | €191,038 | €4,172 | -€186,866 | -97.8% |
| Amounts payable | 17/49 | €25,294 | €156,780 | +€131,486 | +520% |
| Amounts payable after more than one year | 17 | €1,889 | - | -€1,889 | |
| Financial debts | 170/4 | €1,889 | - | -€1,889 | |
| Amounts payable within one year | 42/48 | €23,405 | €156,121 | +€132,716 | +567% |
| Current portion of amounts payable after more than one year | 42 | €7,515 | €1,889 | -€5,626 | -74.9% |
| Trade debts | 44 | €0 | €1,421 | +€1,420 | +322,764% |
| Suppliers | 440/4 | €0 | €1,421 | +€1,420 | +322,764% |
| Taxes, remuneration and social security | 45 | €5,154 | €25,312 | +€20,157 | +391% |
| Taxes | 450/3 | €5,154 | €25,312 | +€20,157 | +391% |
| Other amounts payable | 47/48 | €10,735 | €127,500 | +€116,765 | +1,088% |
| Accrued charges and deferred income | 492/3 | - | €659 | +€659 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,993 | €9,433 | +€439 | +4.9% |
| Other operating charges | 640/8 | €618 | €590 | -€28 | -4.6% |
| Gross operating margin | 9900 | €139,529 | €127,115 | -€12,414 | -8.9% |
| Operating profit (loss) | 9901 | €129,918 | €117,093 | -€12,825 | -9.9% |
| Financial income | 75/76B | €0 | €2,333 | +€2,333 | +1,228,000% |
| Recurring financial income | 75 | €0 | €2,333 | +€2,333 | +1,228,000% |
| Financial charges | 65/66B | €685 | €632 | -€54 | -7.8% |
| Recurring financial charges | 65 | €685 | €632 | -€54 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €129,233 | €118,795 | -€10,438 | -8.1% |
| Income taxes | 67/77 | €28,343 | €25,660 | -€2,682 | -9.5% |
| Profit (loss) for the period | 9904 | €100,890 | €93,134 | -€7,756 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €100,890 | €93,134 | -€7,756 | -7.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.